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  • A $43 million subdivision likely to be built within the next 18 months will add 48 new “executive” homes to Wellington’s desperately strained housing supply.

The size of the Lookout subdivision in the northern suburb of Newlands would represent about 10 per cent of all houses currently coming on to the local market.

READ MORE VIA THE DOMINION POST

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Wellington Mayor Justin Lester (with Bayleys regional general manager Grant Henderson at left) said a 36-hectare conservation block next to the subdivision, donated by Lookout developer Jarden Corporation, was a ”fantastic asset for the public of Wellington and the city at large”.